Current Economic Situation Essay Example | Topics and Well Written Essays - 250 words

Current Economic Situation - Essay Example As a result, the USA witnessed a growth in suburbs. Then the 1970’s recession destroyed the predominantly industrial cities and created a way for the growth of the knowledge sectors and new geographic centers. The economy suffered from the inefficiencies arising from the manufacturing era. The West Coast experienced a boom, but many cities focused on cheap yet appreciating housing, turning it into its main industry. Yet, as Florida (2009) outlined in his article, such development was too one – sided so that once the crisis occurred, the housing markets crashed, as did the local economy’s major industry. On the other hand, places such as New York have survived and will remain centers of innovation and progress. The latest developments have favored flexible, innovative and international labor force. Moreover, areas harboring such labor force are also diverse in terms of the skills and services these individuals provide. Such a labor force creates new ideas and easily takes over the economy once one segment of that economy falters. For example, whereas the finance, housing and industrial sector suffered, academics and scientists benefitted from this crisis, and so did the cities harboring them, thus creating new spatial fixes around which new forms of social structures will form. The social structure will change over the next decade or more. According to Florida (2010), the high paying workers will profit from their creativity just as the workers in the manufacturing areas benefitted after the Great Depression. Moreover, suburbs and their communities will become denser, more diverse and connected, responding to the need for fast communication, production and delivery of ideas. A change in homeownership will arise, where renting will become more widespread, increasing mobility of workers. In short, Harvey (2001) borrowed the term

Asses the role and significance of the British Empire for the Essay

Asses the role and significance of the British Empire for the development of the nineteenth century international economy - Essay Example As compared with other powers that were not able to leverage an empire, or an empire of the sheer size and breadth/complexity and diverse peoples and markets as that which the United Kingdom had, were not nearly so competitive during this time. In such a way, these competitive powers help to show the level to which the United Kingdom’s dominance was nearly supreme. As a means of understanding this actuality, the reader should consider that the United Kingdom’s empire afforded it two extremely essential resources towards achieving and maintaining dominance within economics. These two factors were the markets which the existence of the empire afforded as well as the raw materials which the empire itself could supply. One might more broadly consider the degree of cheap and oftentimes free labor that the existence of the empire also provided as yet another key determinant in economic power and hegemony (Hagerman 2009, p. 345). As a function of this brief overview and analys is these three factors will be briefly considered and analyzed to help create the case that the existence of the empire and the economic power and strength that the United Kingdom was able to exhibit during the nineteenth century were mutually exclusive (Libecap et al 2011, p. 300). In short, without the empire, the power and dominance of the United Kingdom, both militarily, economically, and politically would not have been possible. Firstly, with regards to the raw resources that the empire afforded to the development of the British economy, with the lack of such an empire, the resources that the economy required would have been exponentially more expensive. Likewise, due to the fact that the mechanisms of resource extraction could take place throughout the British Empire and return these raw materials to the home island, finished products could then be developed and manufactured from these raw materials. By reducing the necessity to pay market prices for resources, something that any other economic power that did not retain an expansive empire during this time would need to do, the British Empire was able to provide integral resources for the production of relatively low-cost goods which in turn could be marketed and sold to the remainder of the world; as well as back to the very economies which the resources were originally taken from (Desbordes 2008, p. 128). This brings us to the second point, market places. As the British Empire spread over the entire globe, this necessarily meant that a litany of nations, regions, tribal groups and other segmentations of peoples and territory were introduced to the goods that the United Kingdom had to offer for sale (Candlin 2009, p. 524). Similarly, because there was a monopolistic type economic arrangement that existed within the empire, the ability to purchase for the competition states was a non-existent option. In this way, the United Kingdom had a captive market in which to resell the finished goods that the very same empire had supplied the raw materials for in the first place (Stuart 2008, p. 4). Finally, this analysis will consider the fact that the empire itself provided extraordinarily cheap labor which provided the Empire with a means to extract a great deal of material wealth and/or natural resources at a cost that none of the competing economic powers in Europe or the United States could match at the time (Roy 2003, p. 398). This again acted as a type of symbiotic relationship